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Old Posted Sep 21, 2022, 5:07 PM
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Here’s the Latest Look for Downtown Austin’s HealthSouth Redevelopment

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The 1.73-acre city-owned downtown property at 1215 Red River Street, formerly home to the HealthSouth Rehabilitation Hospital, is the lesser-known cousin of the significantly larger Central Health redevelopment — the latter project’s bringing a roughly 14-acre planned unit development with commercial and residential uses under the auspices of the University of Texas and Dell Medical School’s “Innovation District” branding to the former home of Brackenridge Hospital over 10 to 15 years.

But despite its lesser size, the HealthSouth project’s current planning phases have caught more headlines lately due to efforts by some members of Austin City Council to extract more affordable housing from developers Aspen Heights Partners, who won the contract for the site’s mixed-use redevelopment last year. Negotiations are reportedly still ongoing, with Council voting earlier this summer to kick the can down the road until its upcoming September 29 meeting, but it’s clear that the developer’s vision of the project has already changed significantly. After purchasing a quarter-acre property at 614 East 12th Street directly adjacent to the HealthSouth tract, Aspen Heights is now reportedly able to fit two residential towers at the assembly rather than one office and one residential tower as previously planned. We’ve got a new look at the design for the site from Aspen Heights’ equity partners Texas Growth Fund, and sources connected to the project have confirmed these renderings.

Two 37-story residential apartment towers with 921 units and over 772,000 square feet of living space.

28,000 square feet of retail space including a gourmet food hall and indoor live music venue.

30,000 square feet of elevated outdoor plaza that provides an amenity and connects the two residential structures, optimized to both contribute to and enjoy the 12th Street Capital View Corridor.

The site is expected to complement and benefit from the multiple sources of demand that immediately surround it. The mixed-use project site is directly across the street from Austin’s newly-developed 11-acre central park. The $94 million Waterloo Park and its 5,000-seat outdoor Moody Amphitheater are at the center of the city that is widely known as the “Live Music Capital of the World.”




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Old Posted Oct 12, 2022, 10:33 PM
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Austin City Council Selects Aspen Heights Partners to Redevelop the Former HealthSouth Property in the City’s Innovation District


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AUSTIN, Texas--(BUSINESS WIRE)--The Austin City Council approved Aspen Heights Partners’ proposal to redevelop the city-owned HealthSouth tract, a key step forward for a project that will bring 232 units of affordable housing and various other community benefits to Downtown Austin. The Austin-based developer, which will partner with Capital A Housing and The NHP Foundation on the development, has been selected to build the multi-tower, mixed-income complex after a master development agreement was approved in a Council meeting on Thursday, September 29th.

The residential towers will total 921 units, of which more than 25% will be affordable housing for low-income Austin families. The project also hosts an on-site childcare center provided at affordable tuition. The 232 affordable units will comprise approximately 18 of the south tower’s 27 floors, and will be developed, owned, and operated by NHP and Capital A.
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